Century Pacific Food, Inc. (PSE: CNPF), the Philippines’ largest canned food company, declared today a cash dividend of PHP0.18 per share, composed of a regular and special cash dividend of PHP0.10 and PHP0.08, respectively.
This per share cash dividend represents a 35% increase versus the PHP0.13 paid last year.
The total dividend declaration will amount to PHP638 million which represents 24% of CNPF’s 2016 net income, similar to the previous year’s dividend payout ratio of also 24%.
Based on the Company’s closing price on June 29, 2017, this dividend will translate to a 1% dividend yield for all stockholders on record as of July 28, 2017.
Payment date is set for August 23, 2017.
CNPF, the country’s largest canned food company, has an established track record of brand-building, which now spans close to forty years. It has developed a roster of household names which include Century Tuna, Argentina Corned Beef, 555, Angel, and Birch Tree, maintaining market leadership in both the canned tuna and canned meat segments.
The Company earlier disclosed that its 2016 net income reached Php2.66 billion, an increase of 37% year-on-year on the back of double-digit branded revenue growth, improved profitability, and the full-year consolidation of its coconut business.
